Shell’s Look at Endeavor Shows Big Oil’s Growing Sway in Permian

Royal Dutch Shell Plc’s negotiations to buy Endeavor Energy Resources LP underscore the growing clout of Big Oil in the Permian Basin after BP Plc, Exxon Mobil Corp. and Chevron Corp. ramped up investments in the prolific U.S. shale play.

Shell is in talks to acquire Endeavor for about $8 billion, people familiar with the matter said Dec. 17. The Anglo-Dutch oil giant has every reason to push ahead since it has lagged behind other operators in the Texas shale fields, and was outbid this year on $10.5 billion of assets that would’ve helped it compete.

Endeavor controls drilling rights ...